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away from possibly going off the fiscal cliff. it's our focus this morning. if lawmakers fail to reach a deal, that would mean spending cuts and tax hikes for 88% of all american households on tuesday. look at the number from the tax policy center. these numbers are interesting. some of the poorest americans who make up to $20,000 a year will have to shell out about $412 more to the irs, and everyone earning more than $40,000 a year will be affected. if you make $40,000 to $64,000 a year, you'll pay almost $2,000 more a year, and if you make a little more between $64,000 to $108,000, that number jumps to $3,500. and anyone making more than $108,000, you'll have to give up more than $14,000. overall, the average american will pay more than $3,500 a year. the question needs to be asked here, will lawmakers be able to pull off a new deal before the new year? the managing director joins me now live from miami. you, dylan, were part of the bush administration a little more than a decade ago, which actually initiated this series of tax cuts, which later led to a near government shutdown in 2
tock, the clock is ticking. three days from possibly going over the fiscal cliff. it's our focus this morning. if lawmakers fail to reach a deal, that would mean spending cuts and tax hikes for 88% of all american households come tuesday. look at these numbers from the tax policy center. some of the poorest americans who make up to $20,000 a year, will have to shell out $412 more to the irs and everyone earning more than $40,000 a year will be affected. if you make $40,000 to $64,000, you'll pay almost $2,000 a year, if you make between $64,000 to $108,000, that jumps up to 3,500. and anybody making more than $108,000, yeah, you'll have to give up a little more than $14,000. overall, the average american will pay more than $3,500 a year. will lawmakers be able to pull off a deal before the new year? here's cnn chief correspondent ali velshi. >> alison, i have no idea whether we'll get a fiscal cliff deal done or not. i do have a pretty good idea as to how we got into this gigantic pickle in the first place. >> now we've passed a bold package of tax relief for america's families a
try to work out on a deal to avoid the fiscal cliff. the deadline is less than 48 hours away and as to whether they can get it done, the president says he's hopeful. >> i'm modestly ll lly optimis an agreement can be achieved. let's make sure that middle class families and the world economy aren't adversely impacted because people can't do their jobs. >> both houses of congress are meeting in a rare sunday session. the house an hour later at 2:00. our chief white house correspondent jessica yellin now with the look at a chance for a deal and what's on the table. >> alison, here in washington, there is still hope a deal can be cut in time to avert the fiscal cliff. on saturday, the president was at work here in the white house but all eyes were on the senate where negotiators were trading deal points and revenue figures to try to reach an agreement all sides can stomach. the baseline for the president, any bipartisan bill would have to extend unemployment insurance that would affect some 2 million americans and increase taxes for the highest income earners. but negotiators ca
Search Results 0 to 2 of about 3